Distressed Debt / Litigation Funding
Hi all,
Anyone know any shops in London that do both distressed debt and litigation finance? I have some experience in litigation finance, which necessarily involves funding into liquidations and bankruptcy. I’m looking to branch out to somewhere that I can keep this up whilst being exposed to distressed debt / RX more generally.
I’m at a GP atm but open to switching to sell side to broaden my experience. Background is big law but currently half way through an MBA.
Happy to share my experience with anyone!
FC
Based on the most helpful WSO content, there are a few key points to consider for your transition and search:
Distressed Debt and Litigation Finance Overlap: Firms that specialize in distressed debt often value legal expertise, especially in areas like bankruptcy and restructuring. Your background in litigation finance, particularly with exposure to liquidations and bankruptcy, could be a strong asset. Some funds, like Aurelius, are known for leveraging legal expertise in distressed investing, focusing on how courts and jurisdictions handle bankruptcy scenarios.
Targeting the Right Firms: While specific London-based shops aren't explicitly mentioned in the dataset, you might want to explore firms with a focus on distressed/special situations strategies. These could include credit funds or hedge funds with a legal-oriented approach to corporate securities investing. Additionally, boutiques specializing in restructuring or distressed M&A could align with your goals.
Leveraging Your Background: Your big law experience and ongoing MBA are significant assets. Highlighting your legal expertise and its relevance to distressed debt (e.g., understanding documentation, risk mitigation, and court proceedings) can set you apart. Supplementing this with financial modeling practice, as suggested in WSO threads, will help bridge any perceived gaps in your finance skill set.
Networking and Transitioning: Networking with professionals in restructuring or distressed investing roles can provide insights and potential leads. Targeting firms that value a legal background, such as those with strong RX or LevFin groups, could be a strategic move. Additionally, consider sell-side roles in restructuring advisory to gain broader exposure before transitioning to the buy-side.
If you're open to sharing more about your specific goals or preferences, it might help refine the advice further!
Sources: Distressed debt / special sits investing - On the job, Q&A: I'm a London-based Distressed Debt Analyst, Q&A: Currently at a Credit Hedge Fund, M&A - Bankers vs. Lawyers, Law to Investment Banking (One Monkey's How-To Guide)
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